#
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|CONTENTS|||PAGE|
|---|---|---|---|
|Governors,
Officers and Advisers||||
|Annual
Report ofthe Governors||||
|Independent
Auditor's
Report to the Members|||18|
|Statement of Financial Activities (Incorporating|the Income and Expenditure|Account)|22|
|Balance Sheet||||
|Cash Flow Statement|||24|
|Notes tothe Financial Statements|||25|
##
|pany.
The members
etailed below.|ofthe Gover|ning
|Body|who se|rved
in off|ice as|G|
|---|---|---|---|---|---|---|---|
||||I|||||
|Governor|OO
OO
E
O|'O
O
S
I|0
a
O
Ols|O0
I
IO|O
'Oo a
O.
E0
E IJ|'O
O
O
g
B
Ol|O
O
E
E
0
U|
|AAgace||||||||
|SBilby||||||||
|J Evans||||||||
|D Fallon||||||||
|I Gomes||||||||
|A Horden||||||||
|TJohnson||||||||
|E Knight||||||||
|C Man||||||||
|P Sava e||||||||
|PTanner||||||||
|CTownsend||||||||
|M Whitb||||||||
##
|Advisers||||||
|---|---|---|---|---|---|
|independent||Auditor|greaten
Reeves||LLP|
||||Springfield|House||
||||Springfield|Road||
||||Horsham|||
||||West Sussex|||
||||RH12 2RG|||
|Bankers|||Barclays Bank PLC|||
||||90-92 High|Street||
||||Crawley|||
||||West Sussex|||
||||RH10 1BP|||
|Solicitors|||Moore Barlow LLP|||
||||The Oriel|||
||||Sydenham|Road||
||||Guildford|||
||||GU13SR|||
|Insurance|Brokers||Marsh Limited|||
||||1-5Perrymount||Road|
||||Haywards|Heath||
||||Surrey|||
||||RHLS 3SY|||
|Website|||www. boxhillschool. corn|||
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|Bursaries and sibling discounts
Scholarships|26 pupils
119pupils|6260,362
~3Jlgg
~6~45|33pupils
114pupils|6293,767
~~7
5521 254|
|---|---|---|---|---|
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|Forthe year ende|
d 31July 2022||p
|||
|---|---|---|---|---|---|
||||Unrestricted|Total|Total|
||||funds|funds|funds|
||||2022|2022|2021|
|||Note|6|6|F|
|Income from:||||||
|Donations
and legacies|||||119,803|
|Charitable
activities:||||||
|School fees receivable|||9,169,529|9,169,529|8,412,279|
|Ancillary trading|income||690,494|690,494|342,999|
|Investments|||37|37|53|
|Other income|||||190,000|
|Total income|||9,860,060|9,860,060|9,055,134|
|Expenditure
on:||||||
|Charitable
activities|||9,940,838|9,940,838|8,918,150|
|Other expenditure||9|179,912|179,912|140,575|
|Total expenditure|||10,120,750|10,120,750|9,058,835|
|Net movement
in|funds||(260,690)|(260,690)|6,299|
|Reconciliation
offunds:||||||
|Total funds brought|forward||7,513,781|7,513,781|7,507,482|
|Total funds carried forward|||7,253,091|7,253,091|7,513,781|
##
##
|As at 31July 202|2||||||
|---|---|---|---|---|---|---|
|||||2022||2021|
|||Note||6|||
|Fixed assets|||||||
|Tangible assets||14||14,028,578||14,309,114|
|Investments||15||100||100|
|||||14,028,678||14,309,214|
|Current assets|||||||
|Debtors||16|338,500||2,665,205||
|Cash at bank and|in hand||1,430,387||1,796,842||
||||1,768,887||4,462,047||
|Creditors: amounts|falling due within one||||||
|year||17|(2,072,209)||(4,127,981)||
|Net current liabilities Iassets||||(303,322)||334,066|
|Total assets less|current liabilities|||13,725,356||14,643,280|
|Creditors: amounts|falling due after more||||||
|than one year||18||(6,412,265)||(7,129,499)|
|Provisions
for liabilities||||(60,000)|||
|Net assets||||7,253,091||7,513,781|
|Total net assets||||7,253,091||7,513,781|
|Charity funds|||||||
|Restricted
funds||20|||||
|Unrestricted
funds||20||7,253,091||7,513,781|
|Total funds||||7,253,091||7,513,781|
##
##
|Statement ofcash flows
Forthe year ended 31July 2022|||||
|---|---|---|---|---|
||||2022|2021|
||||F||
|Cash flows from operating
activities|||||
|Net cash used in operating
activities|||896,978|163,067|
|Cash flows from investing
activities|||||
|Dividends,
interests
and rents from investments|||37|53|
|Proceeds from the sale of intangible
assets||||510,800|
|Purchase oftangible
fixed assets|||(253,675)|(90,150)|
|Net cash (used in)/provided
by investing||activities|(253,638)|420,703|
|Cash flows from financing
activities|||||
|Cash inflows from new borrowing||||1,000,000|
|Repayments
of borrowing|||(783,519)|(601,267)|
|Capital element offinance leases repaid|||(46,364)|(55,485)|
|Interest paid|||(179,912)|(140,575)|
|Net cash (used in)/provided
by financing||activities|(1,009,795)|192,572|
|Change
in cash and cash equivalents|in|the year|(366,455)|776,342|
|Cash and cash equivalents
at the beginning||ofthe year|1,798,842|1,020,500|
|Cash and cash equivalents
at the end|of|the year|1,430,387|1,796,842|
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|Charitable|Land|and|Furniture,|Fixtures|Computers,||Motor Vehicles|
|---|---|---|---|---|---|---|---|
|Activities|Buildings||and Fittings||Software|and||
||||||Networkin|||
|Teachin|50%||45%||50||All Minibuses|
|Welfare|50|||||||
|Premises|||||||All estate vehicles|
|Su
ort|||10%||50%|||
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||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022|2021|
||||E|
|Donations|||8,183|
|Grants|||111,620|
|Tt2022|||119,803|
##
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2021|
||||F||E|
|Teaching|and Academic Services (Note 5)||9,169,529|9,189,529|8,412,279|
|Ancillary|trading|income (Note 6)|690,494|590,494|342,999|
|Total 2022|||9,860,023|9,880,023|6,755,278|
##
|School fees|receivables|||
|---|---|---|---|
|||2022|2021|
|||5|8|
|Board and tuition fees||9,514,859|6,790,796|
|Fees in lieu|of notice|118,278|192,737|
|Scholarships|and bursaries|(583,408)|(571,254)|
|||9,189,529|8,412,279|
##
##
|Ancillary
tra|ding
income|||
|---|---|---|---|
|||2022|2021|
|||E|E|
|Income from|extra tuition|480,345|260,068|
|Courses and|sub-lettings|161,982|22,681|
|Registration|fees|48,167|40,250|
|||690,494|342,999|
##
|Unrestricted|Total|Total|
|---|---|---|
|funds|funds|funds|
|2022|2022|2021|
|E|E||
|37|37|53|
##
|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||||funds|funds|
|||||||2022|2021|
|||||||E|E|
|Gain|on|disposal|oftangible|fixed|assets||190,000|
##
||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022|2021|
||E|||
|Interest on bank loans and overdrafis|147,787|147,787|106,431|
|Finance lease charges|32,125|32,125|34,244|
|Total2022|179,912|179,912|140,675|
##
##
##
|||Activities|||
|---|---|---|---|---|
|||undertaken|Governance|Total|
|||directly|costs|funds|
|||2022|2022|2022|
|Teaching|and Academic Services|5,369,744||5,369,744|
|Welfare||1,280,703||1,280,703|
|Premises||866,059||866,059|
|Support||2,329,418||2,329,418|
|Governance|||94,914|94,914|
|Total20|2|9,845,924|94,914|9,940,838|
##
||Activities|||
|---|---|---|---|
||undertaken|Governance|Total|
||directly|costs|funds|
||2021f|2021
F|2021f|
|Teaching and Academic Services|5,117,934||5,117,934|
|Welfare|1,079,095||1,079,095|
|Premises|864,709||864,709|
|Support|1,777,568||1,777,568|
|Governance||78,854|78,854|
|Total2021|8,839,306|78,854|8,918,160|
##
##
|||Teaching|||||
|---|---|---|---|---|---|---|
|||and|||||
|||Academic||||Total|
|||Services|Welfare|Premises|Support|funds|
|||2022
6|2022
6|2022f|2022|2022|
|Staff costs||4,128,012|324,089|280,037|1,479,805|6,211,943|
|Depreciation||259,834|214,577||59,802|534,213|
|Supply staff|costs|15,682||||15,682|
|Staff discounts||123,097||||123,097|
|Advertising
fees|and introductory|318,763|||55,564|374,327|
|Text books|and equipment|217,758||||217,758|
|Maintenance||||31,647||31,647|
|Food and subsistence|||612,441|||612,441|
|Other overheads||306,598|129,596|554,375|734,247|1,724,816|
|Total 2022||5,369,744|1,280,703|866,059|2,329,418|9,845,924|
|||Teaching|||||
|---|---|---|---|---|---|---|
|||and|||||
|||Academic||||Total|
|||Services|Welfare|Premises|Support|funds|
|||2021|2021|2021|2021|2021|
|||||||F|
|Staff costs||4,137,738|347,531|274,778|1,063,037|5,823,084|
|Depreciation||264,394|218,035||66,810|549,239|
|Staff discounts||118,962||||118,962|
|Advertising
fees|and introductory|116,979|||66,753|183,732|
|Text books|and equipment|155,489||||155,489|
|Maintenance||||30,551||30,551|
|Food and subsistence|||395,307|||395,307|
|Other overheads||324,372|118,222|559,380|580,968|1,582,942|
|Total 2021||5,117,934|1,079,095|864,709|1,777,568|8,839,306|
##
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||Total|Total|
|---|---|---|
|Governance|funds|funds|
|2022
5|2022f|2021f|
|94,914|94,914|78,854|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|||||||5|
|Fees payable|to the Charitable|Company's|auditor|for the audit ofthe|||
|Charitable|Company's
annual|accounts|||11,994|12,804|
|Fees payable|to the Charitable|Company's|auditor|in respect of:|||
|All non-audit|services not included
above||||5,527|4,500|
##
||||2022|2021|
|---|---|---|---|---|
|||||F|
|Wages and|salaries||4,964,398|4,571,361|
|Social security costs|||517,164|515,502|
|Contribution|toTPS &defined contribution|pension schemes|730,381|736,221|
||||6,211,943|5,823,084|
||2022|2021|
|---|---|---|
||No.|No.|
|Employees|149|147|
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|||2022|2021|
|---|---|---|---|
|Teaching:|Full time|57|54|
||Part time|15|16|
|SuPport|Full time|13|14|
||Part time|17|15|
|Welfare:|Full time|9|11|
||Part time|10|6|
|Premises:|Full time|9|g|
|Average|FTE|130|125|
|2022|2021|
|---|---|
|No.|No.|
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||Freehold|Fixtures and|Computer|Motor||
|---|---|---|---|---|---|
||property|fittings|equipment|vehicles|Total|
||E||E||E|
|Cost or valuation||||||
|At 1 August 2021|15,664,045|1,968,375|438,460|136,929|18,207,809|
|Additions|1,794|193,023|58,858|~|253,675|
|At31 July2022|15,665,839|2,161,398|497,318|136,929|18,461,484|
|Depreciation||||||
|At 1 August 2021|2,277,915|1,178,859|318,433|123,488|3,898,695|
|Charge for the year|284,665|160,544|85,642|3,360|534,211|
|At31 July2022|2,562,580|1,339,403|404,075|126,848|4,432,906|
|Net book value||||||
|At 31 July 2022|13,103,259|821,995|93,243|10,081|14,028,578|
|At 31 July 2021|13,386,130|789,516|120,027|13,441|14,309,114|
|||2022|2021|
|---|---|---|---|
|||E|E|
|Computers,
software and network
Motor vehicles||23,900
10,084|79,423
13,441|
##
##
|||Investments|
|---|---|---|
|||Iri|
|||subsidiary|
|||companies|
|||6|
|Cost or|valuation||
|At 1 August 2021||100|
|At 31 July 2022||100|
|Shares|in group undertaking||
##
##
|Debtors||||
|---|---|---|---|
|||2022|2021|
|Due within one year||||
|Trade debtors||122,827|2,617,696|
|Other debtors||47,491|22,403|
|Prepayments|and accrued income|188,182|25,106|
|||338,500|2,665,205|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||E|F|
|Bank|loans||||418,803|394,257|
|Trade|creditors||||143,859|91,881|
|Other|taxation|and|social|security|150,439|124,156|
##
##
|||||2022|2021|
|---|---|---|---|---|---|
|||||F||
|Obligations|under finance lease and hire purchase||contracts|28,945|61,827|
|Other creditors||||1,109,255|499,078|
|Accruals and deferred||income||224,107|2,956,780|
|||||2,072,209|4,127,981|
##
||||2022|
|---|---|---|---|
|Advance|fees at 1 August 2021||191,314|
|Resources deferred
during the year|||878,473|
|Amounts|released
from previous|year|(353,843)|
|Advance|fees at 31July 2022||505,944|
##
|Creditors: Am|ounts
falling due after more than on|e year|||
|---|---|---|---|---|
||||2022|2021|
||||8|5|
|Bankloans|||5,825,931|6,631,796|
|Net obligations|under finance lease and hire purchase|contracts||13,482|
|Other creditors|||585,334|484,221|
||||5,412,285|7,129,499|
|Notes to the financial statements||||
|---|---|---|---|
|Forthe year ended 31July 2022||||
|Included
within the above are amounts|falling due as follows:|||
|||2022
8|2021f|
|Between one and two years||||
|Bank loans||415,603|415,603|
|Between two and five years||||
|Bank loans||5,411,328|6,216,193|
|Over five years||||
##
|||||Harpur vs|
|---|---|---|---|---|
|||||Brazel|
|||||Provision|
|Provided|in|the|year|60,000|
|||||60,000|
##
##
|Statement offunds|- current year|||||
|---|---|---|---|---|---|
|||Balance at 1|||Balance at|
|||August 2021f|Income
E|Expenditure|31July 2022
f|
|Unrestricted
funds||||||
|Designated
funds||||||
|||65,465|||65,465|
|Bursary reserve||||||
|General funds||||||
|General funds||7,448,316|9,860,060|(10,120,750)|7,187,626|
|Total Unrestricted|funds|7,513,781|9,860,060|(10,120,750)|7,253,091|
##
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|||||||||Balance at||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||1 August|||Balance at|
|||||||||2020|Income|Expenditure|31 July 2021|
|||||||||6|6|6|6|
||Unrestricted
funds|||||||||||
||Designated
funds|||||||||||
||Bursary reserve|||||||65,465|||65,465|
||General funds|||||||||||
||General funds|||||||7,442,017|8,870,910|(8,864,611)|7,448,316|
||Total Unrestricted|funds||||||7,507,482|8,870,910|(8,864,611)|7,513,781|
|21.|Reconciliation
of|net movement|||in funds to||net|cash flow|from operating|activities||
|||||||||||2022|2021|
|||||||||||6||
||Net
income/expenditure||for|the|year|(as|per|Statement|of Financial|||
||Activities)|||||||||(260,690)|6,299|
||Adjustments
for:|||||||||||
||Depreciation
charges|||||||||534,211|549,239|
||Dividends,
interests|and rents from investments||||||||(37)|(53)|
||Loss/(profit)
on the|sale of|fixed|assets|||||||(190,000)|
||Decrease/(increase)|in debtors||||||||2,315,850|(61,393)|
||(Decrease)/increase|in creditors||||||||(1,932,268)|(281,700)|
||Interest payable|||||||||179,912|140,675|
||(Decrease)/increase|in provisions||||||||60,000||
||Net cash provided|by operating|||activities|||||896,978|163,067|
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|under non-|can|cellable
operating
leases as follows:|||
|---|---|---|---|---|
||||2022|2021|
|Not later than||1 year|117,503|74,737|
|Later than|1 year and not later than 5years||107,455|51,700|
||||225,058|126,437|
||||2022|2021|
|---|---|---|---|---|
||||8|F|
|Operating|lease|rentals|185,250|63,011|
##